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01 May 1995

News release

Moore McKenzie Inc Philippines-based firm - warning to investors

The Securities Commission has received a number of reports that a Philippines based securities market firm, Moore McKenzie Inc, has been promoting overseas securities in New Zealand by telephone and mail. We have examined some of the firm's correspondence.

Once again, the Securities Commission takes the opportunity to remind investors of the very high risks incurred by them in investing with firms outside the New Zealand jurisdiction which are known to them only by telephone calls and promotional literature. We recommend that investors take great care before committing money to or investing on the recommendation of Moore McKenzie Inc.

Norman F. Miller
Senior Executive (Compliance)